JOHANNESBURG, March 7 /CNW/ - Gold Fields Limited ("Gold Fields") (NYSE:
GFI), (JSE: JFI), (DIFX: GFI) is pleased to confirm that it received formal
notification from the Department of Minerals and Energy that, following
representations by the Chamber of Mines and consultation with all
stakeholders, the mining industry had been allocated an additional 260 MW of
power which will effectively allow mines to increase their power consumption
from the current level of 90% of average historical consumption.
This new allocation will be phased in over the next two weeks and is
aimed at minimizing the disruptive impact of power rationing on the mining
industry, job losses and mine safety.
Terence Goodlace, head of Gold Fields' South African operations, said
today: "We welcome the latest developments. The additional power supply to our
mines will help to limit job losses and will have a positive impact not only
on our company and its employees, but on the broader economy. We will work
closely with Eskom and our peers in the industry to utilise this additional
allocation of electricity to the greatest benefit of all stakeholders and to
ensure that safety is prioritised.
"As soon as the specific additional allocation for each of our mines is
confirmed, we will review our mine plans and production profiles, with a view
to increasing production near to levels prior to those before the reduction in
"Gold Fields will continue to save power wherever possible as we
appreciate that, like everyone in the country, we have a duty to play our part
in energy saving."
About Gold Fields
Gold Fields Limited is one of the world's largest unhedged producers of
gold with attributable production of more than four million ounces per annum
from eight operating mines in South Africa, Ghana and Australia.
A ninth mine, the Cerro Corona Gold/Copper mine in Peru, is expected to
commence production by mid 2008 at an initial rate of approximately 400,000
gold equivalent ounces per annum.
The company has total attributable ore reserves of 92 million ounces and
mineral resources of 252 million ounces.
Gold Fields employs some 53,000 permanent employees across its operations
and is listed on the JSE Limited South Africa (primary listing), the New York
Stock Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
All of Gold Fields' operations are ISO14001 certified. For more
information please visit the Gold Fields website at
For further information:
For further information: Andrew Davidson, Tel: +27-11-644-2638, Mobile: